Latest News
15 Mar, 2012
In 'unprecedented' step, Swift cuts off Iranian banks Under orders from the EU, Swift has taken the unprecedented step of cutting off its financial messaging network to Iranian banks subject to European sanctions. (8 comments)
01 Mar, 2012
Swift introduces cloud-based connectivity Financial messaging network Swift is preparing to upgrade its Alliance Lite system, bringing the option of cloud-based connectivity to most customers. (1 comment)
24 Feb, 2012
Edinburgh to host EBAday 2012 Registration has opened for EBAday 2012, the pre-eminent annual event for the European payments industry, which will run for two full days from 15-16 May at the Edinburgh International Conference Centre, Scotland.
02 Feb, 2012
US lawmakers bid to shut Iranian banks out of Swift network US politicians have proposed a bill that would block Iranian banks from using the Swift network for sending and receiving payment messages.
21 Dec, 2011
Finextra signs off for Christmas and New Year break The Finextra office will be closed after Wednesday 21 December, re-opening Tuesday 3 January. (2 comments)
07 Dec, 2011
Swift to take start-up contest global Financial messaging network Swift is to extend its start-up challenge to three regional showcase events in the US, Asia and Europe, inviting companies to pitch for the chance to present their innovations to financial institutions at Sibos - Swift's annual conference - in Osaka in 2012. (1 comment)
22 Sep, 2011
Firms urged to begin IT prep for handling LEIs Delegates at the annual user conference of financial messaging body Swift were given more information about the development of the legal entity identifier (LEI) messaging standard designed to produce an electronic tag for the counterparties in all securities transactions (1 comment)
22 Sep, 2011
Citi slaps down Bank 2.0 rivals in Innotribe face-off Financial heavyweight Citi has faced off a challenge to old-bank hegemony with a powerful display of its technological prowess that knocked the wind out of a room-full of Bank 2.0 innovation gurus and digital evangelists at an Innotribe session at Sibos in Toronto. (1 comment)
22 Sep, 2011
Sibos Live: It's all about the Chinese renminbi The gravitational pull generated by emerging Asian economies on global payments traffic has been starkly illustrated in Latin America, where China has come to prominence as the number one trading partner for major nations such as Brazil, Chile, Peru and Columbia, creating new challenges and opportunities for banks providing payments and FX services to corporate and institutional clients.
22 Sep, 2011
Swift to build a better dashboard for correspondents Bank-to-bank co-operative Swift is to extend its business intelligence portfolio to build a dynamic correspondent banking dashboard, which will provide users with actionable insight into their transaction data and performance metrics.
22 Sep, 2011
Swift's MyStandards pilot moves into live production Financial messaging network Swift has announced that its MyStandards project is now recruiting users after completing a closed pilot phase.
21 Sep, 2011
EU watchdog warns of financial instability as Sibos bankers complain about regulatory burden Financial stability within the EU is at risk unless decisive and swift action is implemented by all authorities, according to a warning issued by the European Systemic Risk Board (ESRB), the EU's super-watchdog. (1 comment)
21 Sep, 2011
Sibos Live: Fundtech's Ravich speaks out on S1 merger break-down Finextra caught up with Fundtech CMO George Ravich at the Sibos international banking conference in Toronto and put him on the spot over the vendor's decision to back out of an agreed merger with S1 in favour of a private equity buy-out by GTCR.
21 Sep, 2011
Ven digital currency to be displayed on Thomson Reuters terminal network Online collaboration community Hub Culture is to make its Ven digital currency product available on Thomson Reuters data network and desktop terminals globally.
21 Sep, 2011
Banking heads 'hugely disappointed' by T2S delay Leading banks have expressed their disappointment at yesterday's news that Target 2 Securities (T2S), the European Central Bank's plan to streamline Europe's securities settlement structure, has been delayed yet again.
21 Sep, 2011
ECB calls on recalcitrant CSDs to take efficient approach to T2S integration The ECB has called on central securities depositories (CSDs) to 'efficiently reshape' their IT infrastructure in order to integrate to the T2S platform, its proposed pan-European settlement service which has encountered further delays amid foot-dragging by CSDs and protracted arguments over costs and pricing.
20 Sep, 2011
T2S delayed again The European Central Bank has once again been forced to push back the deadline for implementation of Target2 Securities, the Eurosystem's ambitious but controversial project to harmonise Europe's securities settlement structure. (1 comment)
20 Sep, 2011
Sibos signing: Deutsche Bank and Turkey's Garanti forge closer ties Deutsche Bank and Garanti Bank have signed a cooperation agreement for the establishment of a closer global relationship in cross-currency cash management and trade finance.
20 Sep, 2011
Earthport and IPFA collaborate on untapped cross-border payments market UK-based payments shop Earthport is to adopt the standards laid down by International Payments Framework Association (IPFA) as part of an international drive to meet small business demands for more efficient cross-border payments services.
20 Sep, 2011
Swift completes eBAM pilot A pilot exercise led by financial messaging cooperative Swift for a single multibank platform enabling corporates to manage their account electronically has been completed.
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